James Mackintosh

Investors finally capitulated on Friday, starting by dumping everything before a partial recovery, in what might mark at least a short-term end to the steep selloff that began last week.

In the bizarro world of Friday’s coronavirus fears, the price of safe-haven gold fell, and cruise line stocks rose, even as the overall market continued its astounding selloff. Both are signs of a rush to liquidate holdings, closing out what had been profitable trades such as owning gold or betting against cruise stocks.